Artificial Intelligence is changing the way we think of technology. It is radically changing the various aspects of our daily life. Companies are now significantly making investments in AI to boost their future businesses. According to a Narrative Science report, just 38% percent of the companies surveys used artificial intelligence in 2016—but by 2018, this percentage will increase to 62%. Another study performed by Forrester Research predicted an increase of 300% in investment in AI this year (2017), compared to last year. IDC estimated that the AI market will grow from $8 billion in 2016 to more than $47 billion in 2020. ‘Artificial Intelligence’ today includes a variety of technologies and tools, some time-tested, others relatively new.

We are not surprised that the top three entries are natural language generation, speech recognition, and machine learning platforms, in that order. Next are virtual agents (aka “chatbots” or “bots”), then decision management systems, AI-optimized hardware, deep learning platforms, robotic process automation, text analytics & natural language processing, and biometrics. See the write-up for details on each of these topics, including some top vendors in each space.

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